Use the following adjusted trial balance information to prepare closing entries for Tl Company at December 31,
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Account Debit Credit Accounts payable Accumulated depreciation, building Advertising expense Depreciation expense Building Cash Cost of goods sold Merchandise inventory Sales Sales discounts Sales returns and allowances Tony Ingram, capital Tony Ingram, withdrawals 50 25 10 70 4 23
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Dec 31 Sales Income Summary 31 Income Summary 31 To close Sales 31 Sales Discounts ...View the full answer
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Related Book For
Fundamental Accounting Principles
ISBN: 978-0071051507
Volume I, 14th Canadian Edition
Authors: Larson Kermit, Tilly Jensen
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